Penske Automotive Group, Inc. (NYSE:PAG) Shares Acquired by Inceptionr LLC

Inceptionr LLC lifted its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 92.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,281 shares of the company’s stock after acquiring an additional 4,449 shares during the period. Inceptionr LLC’s holdings in Penske Automotive Group were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after buying an additional 81 shares during the period. True Wealth Design LLC boosted its position in shares of Penske Automotive Group by 14,833.3% during the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after buying an additional 445 shares during the period. Transamerica Financial Advisors Inc. lifted its position in Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after purchasing an additional 453 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Penske Automotive Group in the third quarter worth approximately $94,000. Finally, Capital Performance Advisors LLP bought a new position in Penske Automotive Group during the 3rd quarter valued at $112,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the sale, the executive vice president now owns 28,917 shares in the company, valued at $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 51.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PAG has been the topic of a number of research reports. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Stephens reiterated an “equal weight” rating and issued a $165.00 price target on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Benchmark began coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $172.50.

Penske Automotive Group Stock Up 1.0 %

NYSE PAG opened at $165.36 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The company’s 50 day simple moving average is $162.14 and its 200 day simple moving average is $160.70. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $180.12. The company has a market capitalization of $11.04 billion, a P/E ratio of 12.03 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. Equities research analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s payout ratio is currently 35.49%.

Penske Automotive Group Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.